Minister rejects Portugal is less prepared for no-deal Brexit

in News · 05-04-2019 14:26:00 · 1 Comments
Minister rejects Portugal is less prepared for no-deal Brexit

Portugal’s minister of finance, Mário Centeno, has denied that the country is less prepared for a disorderly UK departure from the EU.

Centeno said that the government has done everything to ensure the safeguard of the impact of a no-deal.

Speaking to journalists in Bucharest, before an informal meeting of the Eurogroup, Centeno reacted to the statements of the managing director of the International Monetary Fund, Christine Lagarde, rejecting the idea that Portugal is less prepared than other countries of the EU bloc for a no-deal Brexit.

“I do not believe it. We have done everything internally to be prepared. Our ties with the United Kingdom are very important, from the point of view of trade, economics, finance, tourism,” Centeno said.

“Many British people have very close ties with Portugal, these issues are safeguarded, we should not worry.”

In an interview with the Portuguese public broadcaster RTP, Lagarde said that Portugal will not be immune to Brexit.

“Portugal is not fully protected (from Brexit] because there is a lot of trade between Portugal and the United Kingdom and have a great service activity, which has been widely open to the United Kingdom,” Lagard said, questioning the possible impact on the return of retired British people from Portugal to the UK.

“I do not know if any country is completely protected from a no-deal Brexit, given its dimensions in terms of implications,” Centeno said.

He added that Brexit is not “formally” on the agenda of Friday’s meeting with the finance ministers of the euro area, which he presides over, but the European Commission is to present the preparation state of the EU bloc for a disorderly Brexit.

“Politically, it is important to continue to pass the message that a no-deal agreement is very negative for everyone and should be avoided at all costs,” he said.


With regard to Brits returning to the UK, yes their money will go with them but not their houses. Someone else will buy these. In the process of selling/buying the property, the estate agents, lawyers, government etc will all earn money. Once the new residents have moved in they will personalise the house and buy goods and services from local businesses. Overall, the government and community may earn more than if the original owner(s) stayed.

by Susan from Alentejo on 06-04-2019 09:01:00
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